El Salvador announces plan to make Bitcoin legal tender

El Salvador has announced its plan to make Bitcoin legal tender in the country, marking a first for the decentralized cryptocurrency.

CNBC reports:

El Salvador is looking to introduce legislation that will make it the world’s first sovereign nation to adopt bitcoin as legal tender, alongside the U.S. dollar.

In a video broadcast to Bitcoin 2021, a multiday conference in Miami being billed as the biggest bitcoin event in history, President Nayib Bukele announced El Salvador’s partnership with digital wallet company, Strike, to build the country’s modern financial infrastructure using bitcoin technology.

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